$SPY tanked around 2pm, but still held above 133.15 level which is a good support for the day. It would be great to finish today above 134.69, which would put the $SPY above the pivot point, that would help us catapult to the...
Read MoreI’ve long been a fan of trading on multiple time-frames with daily being my primary chart-of-choice. As a swing-trader, I rely heavily on other time frames like the 30-minute for determining my entry intraday and then the...
Read More$SPY opening pretty much flat. Today we have Fed’s minutes. It is just a detailed version of what was said on the last FOMC meeting. I have to confess that I was a bit shocked when the $SPY dropped under 133.91. But...
Read MorePre-market update (updated 8:00am eastern): European markets are mixed in trading with a slight bullish edge. Asian markets also traded in a mixed/flat manner. US Markets are slightly higher heading into the open. Economic...
Read MoreThe Chart of the Day… Quick Glance at the Market Heat Map and Industries Notables: It’s basic materials and technology struggling yet again, but th is time they have company in industrial goods. Consumer goods has...
Read MoreFurther to my post of June 29th, I’m watching the YM, ES, NQ & TF 4-Hour charts as price drops, once again, toward the two intersecting 50% Fibonacci fan lines with the horizontal support levels of 12460 for YM,...
Read MoreFloor Drops: SPY touched all its key levels today opening the morning up, closing the gap above then failing at the key resistance level near 136.26 the high of the day was 136.23 and failing at the 134.85 support. Once this...
Read MoreI say cover your shorts for the day, This market is going to come back up hard in my honest opinion. That pattern I called for on the morning update, could continue to unfold tomorrow. I saw a lot of my colleagues pounding on...
Read More$SPY did just what I was looking for in the morning update. Dropped to 1st support and re-tested 20ma, and now having some trouble to clear 135.15 which is the current pivot point. My expectation is for it to fail this level,...
Read MoreOver the past four trading sessions, the market has no doubt looked weak. Prior to what is at this point, a four-day pullback, the markets were sitting at extremes and begging for a pullback. Now that we’ve got it,...
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